I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Friday, November 18, 2011

My 60-min Trend System is still on a short signal. I think the move today is consolidation in preparation for another move down, and is not yet a tradeable bottom. That is what my system is telling me, and that is also what my gut is saying.

Here is my larger count in context. I am showing it because I am thinking about comparison below, a similar setup to the March wave down. If that were the case, then we might get a low early next week in preparation for the traditional (seasonally bullish) pre and post Thanksgiving day pop.

My 60-min Trend System is still on a short signal. I think the move today is consolidation in preparation for another move down, and is not yet a tradeable bottom. That is what my system is telling me, and that is also what my gut is saying.

Here is my larger count in context. I am showing it because I am thinking about comparison below, a similar setup to the March wave down. If that were the case, then we might get a low early next week in preparation for the traditional (seasonally bullish) pre and post Thanksgiving day pop.

MTAA Following List

Follow MTAA via Twitter

Recommend Market Thoughts and Analysis

The binve Standard Disclaimer

Please feel free to comment, disagree, discuss. However, antagonistic or belligerent comments directed toward myself or any other commentator will not be tolerated If you like or appreciate my analysis, please add yourself to my Following List

The binve standard disclaimer:This in no way constitutes investing advice. All of these opinions are my own and I am simply sharing them. I am not trying to convince anybody to do anything with their money. I am simply offering up ideas for the sake of discussion. As always, everybody is expected to do their own due diligence and to ultimately be comfortable with their own investing decisions. Any actions taken based on the views expressed in this blog are solely the responsibility of the user. In no event will MTaA or its owner be liable for any decision made or action taken by you based upon the information and/or opinion provided in this blog or in any associated RSS or Twitter Feeds.